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Stock Market Today: Deepening Tech Selloff Pushes Nasdaq Toward Its Worst Month in Over a Year

Wall Street suffered a steep selloff as plunging technology shares dragged down major indexes. Nasdaq futures tumbled nearly 800 points while the Nasdaq Composite fell more than 3% during trading, bringing its monthly loss past 5%. This drop marks the worst monthly performance for the tech-heavy index since March 2025. Major technology companies faced intense pressure in premarket and regular trading after disappointing earnings reports from Amazon and Intel compounded earlier concerns sparked by Alphabet. Investors questioned whether massive spending on artificial intelligence will yield expected returns, threatening to wipe out more than $1 trillion in market value.

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  • ✓ The Nasdaq Composite slid more than 5% in October, notching its worst monthly performance since March 2025.
  • ✓ Wall Street slumped Friday as disappointing earnings from Amazon and Intel dragged down major stock indexes.
  • ✓ Tech stocks were on track to wipe out more than $1 trillion amid deepening concerns about the artificial intelligence boom.
  • ✓ Intel stock dropped 30% following its earnings report and premarket crash.
🛡️ Source Corroboration: 9 independent reporting domains (95% confidence) ⏱ Read time: ~2 min

What changed

Disappointing earnings reports from Amazon and Intel intensified the ongoing tech selloff and accelerated Wall Street losses.

Live updates

  1. Tech Selloff Pushes Nasdaq Toward Worst Month Since March 2025

    Wall Street suffered a steep selloff as plunging technology shares dragged down major indexes. Nasdaq futures tumbled nearly 800 points while the Nasdaq Composite fell more than 3% during trading, bringing its monthly loss past 5%. This drop marks the worst monthly performance for the tech-heavy index since March 2025. Major technology companies faced intense pressure in premarket and regular trading after disappointing earnings reports from Amazon and Intel compounded earlier concerns sparked by Alphabet. Investors questioned whether massive spending on artificial intelligence will yield expected returns, threatening to wipe out more than $1 trillion in market value.

    Why it matters

    The sharp market downturn reflects growing skepticism regarding the massive financial commitments technology giants are pouring into artificial intelligence infrastructure. Disappointing quarterly results from major industry players exposed investor anxiety over the profitability of these heavy investments. Alongside the equity rout, related market sectors experienced friction as bitcoin slid and gold prices touched a one-year low.

    What is confirmed

    • The Nasdaq Composite slid more than 5% in October, notching its worst monthly performance since March 2025.
    • Wall Street slumped Friday as disappointing earnings from Amazon and Intel dragged down major stock indexes.
    • Tech stocks were on track to wipe out more than $1 trillion amid deepening concerns about the artificial intelligence boom.
    • Intel stock dropped 30% following its earnings report and premarket crash.

    Still unconfirmed

    • Hundreds of Bay Area layoffs occurred alongside the market selloff.

    What to watch next

    • Further earnings reports and spending updates from major artificial intelligence investors
    • Market recovery or continued declines in the Nasdaq and S&P 500 indexes
    • Movements in bitcoin and gold prices amid broader market stress
    Sources used for this update (9)
    1. WSJ — Stock Market Today: Intel Stock Crashes Premarket as Tech Selloff Extends — Live Updates
    2. CBS News — Tech stocks crushed as Nasdaq futures tumble nearly 800 points
    3. www.cnn.com — Wall Street sell-off continues as investors question returns on ‘monster AI splurge’
    4. NBC News — Tech stocks set to wipe out more than $1 trillion as concerns deepen about the AI boom
    5. Investopedia — Markets News, Oct. 30, 2026: Tech Sell-Off Sends Nasdaq, S&P 500 Reeling; Intel Stock Drops 30%; Bitcoin Slides, Gold Hits One-Year Low
    6. The Business Journals — Daily Digest: Tech stocks hammered on Wall Street, hundreds of Bay Area layoffs
    7. finance.yahoo.com — Nasdaq slides over 5% for worst month since March 2025 as AI ...
    8. eurasiabusinessnews.com — Stock Market Today: Tech Selloff Pushes Nasdaq Toward Its ...
    9. www.indb.co — Wall Street drops to worst day since June after tech stocks ...
    confidence 95%
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